Director jailed 2yrs for stealing N33bn pension fund freed on N250,000 fine
Activist says the N250 thousand fine in a monumental pension fraud is a “handshake”
An Abuja
court on Monday handed a two year jail term, with a N250,000 fine
option, to one of six federal officials tried for stealing N32.8 billion
of police pension fund.
The sentencing is the first conviction
in an elaborate scam that came to light early 2012 involving several top
officials, offices and banks.
John Yakubu Yusuf,
a former assistant director in the federal civil service, was tried on a
20-count charge alongside Atiku Abubakar Kigo (Permanent Secretary),
Ahmed Inuwa Wada (Director), Veronica Onyegbula (Cashier) and Sani
Habila Zira (ICT Officer).
Mr. Yusuf’s sentencing came after he
pleaded guilty to betraying trust and fraudulently converting N2 billion
of police pension funds to private use. The trial continues for the
other accused.
Mr. Yusuf admitted to the 19th and 20th
offences relating specifically to him, each involving betrayal of trust
and the conversion of N1 billion apiece. The maximum penalty for the
offence is two years.
Mr. Yusuf is to forfeit property traced to him by the Economic and Financial Crimes Commission, EFCC, valued at N325 million.
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